US 38% reciprocal tariffs on Guyana Former Commerce Minister urges PSC to exercise caution in public statements

Former Minister of Industry and Commerce, Maniram Prashad, who also served as Chairman of the Private Sector Commission (PSC), has advised the organization to adopt a more measured approach when issuing public statements on economic and trade matters in light of the United States 38% reciprocal tariffs on Guyana.
In a statement, the former minister urged the PSC to avoid making “knee-jerk, rash, and ill-advised statements” without conducting thorough studies and consultations. He emphasized the importance of carefully analyzing issues and sharing relevant information with sectoral and corporate members before taking a position.

“Let this be discussed at length with the Finance and Economic Subcommittee of the PSC, as well as the Georgetown Chamber of Commerce and Industry (GCCI), the Guyana Manufacturing and Services Association (GMSA), and other stakeholders,” he stated.
The former minister also stressed the need for collaboration with government agencies, particularly the ministries of Finance and Foreign Trade, to gain a comprehensive understanding of economic and trade implications. He suggested that, if necessary, a meeting at the highest level should be pursued to address the matter tactfully.
Guyana on a list of countries facing reciprocal tariffs from the United States (US), a measure that if implemented could see the cost of doing business increase, has resulted in the Government of Guyana reaching out to its partners in the US, seeking answers.

On Wednesday, US President Donald Trump announced Global Reciprocal Tariffs that will be implemented against a number of countries, on all goods that the United States imports. Guyana is among several Caribbean and South American countries on the list.
According to a chart the US President read from, Guyana will have a 38 per cent reciprocal tariff rate applied to its exports to the US, in response to the 76 per cent tariff that Guyana was listed as imposing on US products.
In an invited comment, Senior Minister in the Office of the President with responsibility for Finance Dr. Ashni Singh indicated that they are in contact with their American partners on the issue.
“The Government of Guyana has taken note of the reciprocal tariffs announced by the US Government earlier today. Our government is closely engaged with our US partners to better understand the issue and have it addressed as appropriate,” Dr Singh said.